PAYROLL - DIRECT DEPOSIT

Question

Having difficulty understanding two aspects of setting up Direct Deposit. I go to the employee record in question and click on the Direct Deposit tab. I enter Branch number, Institution Number and Account Number. It then says Enter either an amount or a percentage. Is the amount the NET amount of the paycheque? And although it says either an amount or percentage, when I entered an amount, it still requested a percentage. A percentage of what?? 
 Thanks! 
 Denise Hill

RandyW · Accepted Answer

Those fields are for use when depositing funds to multiple accounts. If there's only one direct deposit account, leave those fields blank. 
 They refer to an amount to take out of net pay, and deposit to a particular account. 
 The percentage is the same idea. 
 For example, an employee may request that 10% of their net pay is directly paid to a savings account. 
 There has to be one account that doesn't have a percentage or amount, that's where the remainder of the net pay goes to. 
 I've only used the 'amount' to help an employee budget the first $1,000.00 of each pay to go into a cheque account, with the remainder going to another account.

Sage 50 Canada

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